Seeking Persistent Growth in Technology Investing with Deepwater’s Gene Munster and Doug Clinton
Excess Returns
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The Role of Persistent Growth in Growth Assets
We are really interested in this idea of persistent growth and to find persistent growth it often means you have to look a little bit deeper than most investors. If you look at apple or amazon two names that probably everybody's familiar with go back to 2011 fast forward to today there are 10x each stock is up 10x in that same period the S&P 500 is up about 3x. The reason why is because the smartphone e-commerce and then eventually cloud for amazon were these opportunities that were just way bigger than the market was willing to discountAt that time back in 2011 it wasn't that people doubted Apple or amazon they were actually great stories but despite that even though
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